Study Reveals Record Cruise Tourism Expenditures in the Caribbean and Latin America

New study finds that cruise tourism and the 33.3 million passenger and crew onshore visits throughout 33 Caribbean and Latin American destinations directly generated a record $4.27 billion in total expenditures, along with more than 94,000 jobs paying more than $1.27 billion in wage income, during the last cruise year.

Florida-Caribbean Association (FCCA), the trade group representing the mutual interests of the cruise industry and destinations and stakeholders in the Caribbean and Latin America, is proud to announce that the 2023-2024 cruise year brought record economic contributions to the region. According to the study released today by Business Research & Economic Advisors (BREA), Economic Contribution of Cruise Tourism to the Destination Economies, cruise tourism generated $4.27 billion in direct cruise tourism expenditures – about 27 percent higher than the record set by the previous study in 2018 – along with over 94,000 jobs paying more than $1.27 billion in wage income in the 33 participating destinations.

“We could not be prouder of these results and what they mean for the lives and livelihoods of so many throughout the Caribbean and Latin America,” said Michele Paige, CEO, FCCA. “In addition to showing what cruise tourism brings to these destinations’ economies, many of the study’s findings will also serve as the foundation of building further mutual success between cruise lines and destination stakeholders.”

The study measured direct spending impacts through passenger surveys and crew surveys; cruise line spending for services and provisions; port revenues; and employment generated by cruise ship calls. Measurement of economic impacts was calculated by collecting data from local government agencies, regional development agencies and international economic agencies to evaluate impacts on employment, wages, port fees and taxes.

Key findings include:

Cruise tourism generated $4.27 billion in expenditures, up 27% compared to the last study in 2018 and the previous record.

94,027 jobs were supported by the industry, up 19% compared to the last study, paying a total employee wage income of $1.27 billion.

Destinations welcomed 29.4 million onshore visits from cruise passengers, with an average spend of $104.36, generating a total of $3.07 billion.

Destinations also welcomed 3.9 million onshore visits from crew, with an average spend of $58.78, generating a total of $229.5 million.

Cruise lines spent $968.3 million, an average of $29.3 million per destination.

The 33.3 million passenger and crew visits represent a 13% increase compared to the previous study, and the 31 common destinations in the 2018 and 2024 studies experienced a 17% increase in passenger visits.

Average per passenger spend increased for 26 of the 31 common destinations, and 14 destinations recorded average spend rates above $100 per passenger (up from 12 in 2018).

On average, a single transit cruise call with 4,000 passengers and 1,640 crew generates $369,100 in passenger and crew spending alone: $339,800 and $29,300, respectively.

The study’s measure of cruise tourism expenditures did not include indirect benefits of cruise tourism, including supplies purchased by tour operators, restaurants and port authorities, though the estimates of these expenditures served as the basis for total employment and wage impacts. The study also did not account for other indirect benefits, such as spending from cruise passengers who return as stay-over guests; nor did the study measure other methods of cruise line spending that benefit destinations, including NGO partnerships and marketing.

The study – which is engaged by the FCCA in partnership with its destination partners as one of many ways to foster the understanding of cruise tourism, its benefits and how to best actualize its potential – was released at the 30th annual FCCA Cruise Conference & Trade Show in St. Maarten, further adding to the event’s focus on maximizing mutual success for all throughout cruise tourism through a series of meetings, workshops and networking opportunities between destination stakeholders and cruise executives to offer insight and develop business and relationships.

The full study; its Volume II focusing on both the specific spending within the destinations, along with metrics including passenger satisfaction, time spent ashore and types of shore excursions; and similar studies dating back to 2001 are available at www.F-CCA.com/Research .

33 Participating Destinations with Total Cruise Tourism Expenditures (in $US Millions)

Antigua & Barbuda ($89.0); Aruba ($133.2); The Bahamas ($654.8); Barbados ($83.5); Belize ($88.6); Bonaire ($33.4); British Virgin Islands ($85.7); Cayman Islands ($161.5); Colombia ($49.9); Costa Maya, Mexico ($187.9); Costa Rica ($32.2); Cozumel, Mexico ($483.1); Curaçao ($93.3); Dominica ($20.9), Dominican Republic ($251.4); Ensenada, Mexico ($74.9); Grenada ($22.4); Guadeloupe ($46.1); Honduras ($180.4); Jamaica ($197.8); Key West ($55.4); Martinique ($42.2); Mazatlán, Mexico ($34.1); Panama ($114.0); Progreso, Mexico ($25.8); Puerto Rico ($201.9); St. Kitts & Nevis ($113.1); St. Lucia ($72.7); St. Maarten ($237.8); St. Vincent ($19.3); Trinidad ($5.4); Turks and Caicos ($116.1); and the United States Virgin Islands ($258.1).